24th July 2019 – Global Nuclear
Decommissioning Services market report offers the latest industry
trends, technological alteration and forecast data. A deep-dive view of Nuclear
Decommissioning Services industry based on its size, growth, development plans,
and opportunities is offered by this report. The forecast information, SWOT
analysis, Nuclear Decommissioning Services barriers, and feasibility study are
the vital aspects evaluated in this report.
The Global Nuclear Decommissioning
Services Market is expected to reach USD 8.90 billion by 2025. The Nuclear
Decommissioning is the procedure where plants are discharged from service along
with the termination of their operating licenses approved by (NRC) Nuclear
Regulatory Commission.
The global market is expected to
grow at a CAGR of 6.8% in the forecast period.
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NRC is a regulatory body with
established protocols and underlying guidelines. These guidelines include
processes and requirements which a company is expected to follow to ensure that
the decommissioning procedure is environment-friendly. The decommissioning
procedure aims to decrease the level of residual radioactivity. This is
operated by dissembling the structures, removal of polluted materials to allow
right disposing of facilities, storing the used nuclear fuel. This is done
until the fuel is required to be removed from the site of nuclear power plant
for safe storage or disposal, and discharging the property for further uses.
Most companies offering support services
for nuclear decommissioning need to comply with strict regulations concerning
to safety as the decommissioned region is under the nuclear radiation’s
influence. The services offered by the companies comprise disassembling
concepts, accompanying controls, decommissioning reports, waste package
assessment and post-operational phase support.
The market is predicted to rise
progressively in the coming years owing to the growing support from the
government post nuclear accidents and global nuclear phase out. Increase in
public safety issues due to the dangerous effects of nuclear accidents is set
to fuel up the Nuclear Decommissioning Services market demand in the near
future. Additionally, the rising sustainability issues are projected to
influence the market growth positively.
Owing to different government initiatives
and protocols the market is eyeing to promote Nuclear Decommissioning Services
in the coming years. The ongoing research and developments is assisting various
innovative decommissioning technologies to allow well-organized disassembling
of nuclear facilities. Moreover, for enabling sustainable development, the
government authorities are offering various incentives and support schemes.
This will allow systematic disassembling of nuclear plants.
Market is categorized on the grounds of
reactor types, decommissioning strategy, capacity and geography. On the grounds
of the reactor types, the market is divided into boiling water reactor,
gas-cooled reactor, pressurized water reactor, etc. the pressurized water
reactor type is expected to grow considerably in future with the study of
previous growth cycle. The rising PWR (Pressurized Water Reactor) demand due to
easy-to-use nature and stability is also expected to fuel up the market
significantly.
On the grounds of decommissioning
strategy, the market is divided into immediate strategy, deferred strategy and
entombment. The immediate dismantling strategy is expected to capture larger
share in the Nuclear Decommissioning Services market in the near future
depending on decommissioning strategy. On the grounds of capacity, the market
is divided into Up to 800 MW, 801 MW–1,000 MW and Above 1,000 MW. On the basis
of decommissioning strategy, immediate disassembling is expected to account for
the largest share in the market by 2025.
The Nuclear Decommissioning Services
Industry is examined on the basis of three regions North America, Europe and
Asia-Pacific. Europe is expected to hold maximum market share owing to the
factors like strict regulations to phase out nuclear plants and government
commitment. Additionally, majority nuclear plants from North America region are
old and approaching the decommissioning phase, that will create large
opportunities for Nuclear Decommissioning Services Market.
Some of the key players in the Nuclear
Decommissioning Services Industry are Studsvik AB, AECOM, Babcock International
Group PLC., Areva Group, and Westinghouse Electric, among others. All of these
players are targeting to penetrate the emerging economies and are also adopting
different methods to grow their market share.
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